Explore the legal terms and concepts related to Modification and Termination of Trusts. Click on any term below to learn more about its definition and applications.
TRUSTS#028
Who has the power to modify a trust and when may they do so?
A settlor can modify a trust where they expressly reserve the right. Additionally, if they have the...
TRUSTS#029
What are the majority and minority views for retaining power to revoke a revocable trust?
Under the majority view, in order to retain the power to revoke, the settlor must expressly reserve...
TRUSTS#030
How may an irrevocable trust be terminated?
An irrevocable trust may be terminated if: (1) the settlor and all the beneficiaries agree; (2) all...
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